It’s never to start a pension.

Pensions can seem complicated

It’s important to invest in yourself, so that when you reach retirement you can maintain the lifestyle you want.

We’ll make pensions easy for you and we’ll make sure you understand the benefit you get from your pension.

Personal Pension

We can help you find the right pension for you based on your personal circumstances. The manner in which you earn money can determine the type of pension you can take out. Personal Pensions are ideal for those who are self employed.

Over the last number of years Personal Pension Plans have introduced lower fees and greater fund options. Pax Financial Planning can help you find the pension to best suit your needs.

PRSA’s

PRSAs are a perfect fit for PAYE workers that would like to have their pension contributions deducted through payroll. PRSAs are transferable, meaning that if you leave your current employment you can bring your PRSA with you to your new employer.

The main advantage of a PRSA is to avoid you having multiple pension plans from different employments when you reach retirement age.

Company Pension

A Company Pension is perfect for Company Directors and/or employees of a company. Other benefits such as Death in Service (Life Cover) and Income Protection can also be catered for when setting up a Company Pension.

The company needs to contribute a minimum of 10% of the employee contribution. A Company Pension contribution reduces tax for both the employer and the employees.

Approved Retirement Funds

An Approved Retirement Fund (ARF) is a fund used to control a pension fund after retirement. You must take a minimum withdrawal of 5% of your fund value annually. However there is no cap on withdrawals.

Withdrawals are subject to income tax and levies. Therefore, advice from a member of our team in Pax Financial Planning is extremely important when considering retirement options.

In order to satisfy revenue rules those who retire a pension scheme are required to have a minimum earned income of €12,700 per annum. Earned income does not included rental income.

If you do not have this minimum income, then a figure of €63,500 must be set aside in an Approved Minimum Retirement Fund (AMRF) until age 75. Only the growth on the fund in an AMRF can be withdrawn prior to age 75. Therefore, a good investment strategy is paramount.

Annuities

For those clients seeking assurance in retirement age, and who no longer want the worry of fund performance, annuities are the perfect fit. However, annuity rates (like deposit rates) are linked to interest rates which are currently extremely low.

The older the individual the higher the annuity rate. Therefore some clients prefer to first use the ARF/AMRF structure and then use the annuity option later in life.

Personal Retirement Bonds

AA Personal Retirement Bond (PRB) is a personal policy in the name of the PRB holder. PRBs are typically used when an individual leaves a company pension scheme. The value of their fund on exiting the scheme is transferred to the bond until retirement age.

At retirement age, the proceeds of the PRB can then be used to provide retirement benefits. If you were a member of a company pension scheme in the past and would like our Financial Planner to see if you can use a PRB structure, please contact us to arrange a meeting.

“Paul helped myself and my wife organise life assurance and set up a fund for our children’s college tuition. I found him extremely thorough, helpful and he made the process really quite easy. I would have no hesitation in continuing to recommend Paul and to avail of his financial advice going forward.”

Dave Downes

“I found Ian at Pax excellent and very professional to deal with , he is very knowledgeable and took the time to explain and to help me understand my financial needs and devise the most suitable policies for me, they provided with me with excellent financial advice.”

Colm, Dublin 18

"The ability to meet with a financial adviser face to face offered me great peace of mind. From initial contact whilst setting up my pension to advising on mortgage and life assurance needs, I found the team very responsive and proactive at every stage. Pax have always looked after everything and had my policies set up in a matter of days. I would gladly recommend Conor Byrne or any of the Pax team to my colleagues, friends or family."

JK, Accountant, Dun Laoghaire, Dublin

“I have dealt with Paul Merriman for over 10 years now and found him extremely professional in all his dealings with me and my many clients. I have no hesitation in recommending him to anyone.”

Darragh Moore

“Pax deliver a truly professional financial planning service, specifically tailored to their clients’ own interests. They have a wealth of knowledge at their disposal and I would happily recommend Ian at Pax to anyone seeking a sound personalised service.”

Ken, Dublin 2

"Paul, Conor and all the team at Pax deliver a truly professional financial planning service, specifically tailored to their clients’ own interests. They have a wealth of knowledge at their disposal and I would happily recommend Pax to anyone seeking a sound personalised service."

Andrew Butler

“The ability to meet with a financial adviser face to face offered me great peace of mind and the knowledge that I wasn’t just another number in a database. From initial contact whilst setting up my PRSA to advising on mortgage and life assurance needs I found Ian very responsive and proactive at every stage.”

Philip, Co. Dublin

"I have always found Pax Asset Management excellent and very professional to deal with. They are very knowledgeable and took the time to explain and to help me understand my financial needs and devise the most suitable policies for me. They provided with me with excellent financial advice and services and still do to this day, would highly recommended."

Jack Simons

“Ian offers a highly professional and excellent service. The team has always been helpful in providing a quick turnaround across many different requests and I am left confident that my financial affairs are in great hands.”

DK, Company Director, Foxrock, Dublin

“I have been receiving advice from Pax since 2010 and have always found Paul very well-informed and up-to-date on all aspects of pensions and investments and his experience has assisted me in all facets of my personal finances, for which I am very grateful. He is an honourable and principled individual and I respect his integrity and have no hesitation in recommending him.”

Colm and Avril, Co. Wicklow

"Pax offers a highly professional and excellent service. The team has always been helpful in providing a quick turnaround across many different requests and I am left confident that my financial affairs are in great hands."

Seamus & Siobhán Dublin

“Paul Merriman is someone who delivers expert advice when it comes to money management – he certainly turned our life around. He’s someone we would trust and highly recommend.”

LR, HR Manager, Dublin

“In my dealings with Paul I have always found him to be very approachable, personal and down to earth. For our employees and, on a personal level, he gives excellent, uncomplicated advice and offers peace of mind on investing with his impeccable industry knowledge. I’ve worked with Paul over several years now and have always found his service and professionalism second to none.”

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